Pemex to sell assets to KKR in $1.2bn deal

Mexico’s Pemex and US private equity fund KKR are wrapping up details on a $1.2 billion sale-and-leaseback agreement, according to sources familiar with the operation, as the distressed state-owned oil company scrambles for extra cash.Pemex, which has suffered from a prolonged oil rout, will sell some of its infrastructure assets to the fund, but will continue to operate and maintain them for 15 years and pay rent to KKR. Pemex plans to repurchase the assets after the lease ends, one of the sources said, speaking on condition of anonymity.The assets include pipelines, a system of subsea cables, two non-drilling platforms and a facility for gas compression, according to IFR, a Thomson Reuters publication.

Source: Pemex to sell assets to KKR in $1.2bn deal -Upstreamonline.com

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